INVESTMENT PROSPECTUS 2017
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DISCLAIMER Information contained in this document is based on available data at the time of production. All figures and diagrams are indicative only and should be referred to as such. While Sunshine Coast Regional Council has exercised reasonable care in preparing this document, it does not warrant or represent that it is accurate, reliable, current or complete. The content of this document is not intended to provide specific guidance for particular circumstances and it should not be relied on as the basis for any decision to take action or not to take action on any matter. Users are advised to exercise their own independent skill or judgment or seek professional advice, including legal and financial advice, before relying on the information contained in this document. Except for liability which cannot be excluded, Sunshine Coast Regional Council excludes all liability, injury, loss or damage (including for negligence) incurred by the use of, reliance on, or interpretation of this document. Liability which cannot be legally excluded is limited to the maximum extent possible. 2 INVEST SUNSHINE COAST - THE FUTURE IS HERE
CONTENTS MESSAGE FROM THE MAYOR 5 OVERVIEW 6 AUSTRALIA’S SUNSHINE COAST 10 WHY SUNSHINE COAST? 15 Growing Economy 16 Strong economic foundations 16 Regional economic strategy 18 Pipeline of Capital Development 22 Innovation and Entrepreneurship 28 Dedicated Business Precincts and Infrastructure 30 Enterprise and investment areas 30 Industrial land 30 Lower Costs for Doing Business 32 Payroll tax 32 Industrial land 33 Commercial office rental 33 Operating costs 33 Prime Location 34 Gateway to external markets 34 Lifestyle advantages 35 Quality Workforce and Education Sector 36 High quality education, training and research facilities 36 Workforce of the future 37 Government Incentives and Assistance 38 Sunshine Coast Council 38 Queensland Government 39 INVESTMENT OPPORTUNITIES 41 Property and Infrastructure 43 Maroochydore City Centre 44 International Broadband Submarine Cable 46 Aviation Development Opportunities 48 Health and medical precinct 50 Commercial, residential and mixed-use precincts 52 High-Value Industries Delivering High-Value Returns 57 Health and wellbeing 58 Education and research 60 Knowledge Industries and professional services 62 Tourism, sport and leisure 64 Food and agribusiness 66 Clean technologies 68 Aviation and aerospace 70 HOW TO INVEST 74 KEY CONTACTS 75 3
MESSAGE FROM THE MAYOR As one of Australia’s top ten significant urban areas, the Sunshine Coast is becoming one of Australia’s leading city regions of the 21st century. Mayor Mark Jamieson 4 INVEST SUNSHINE COAST - THE FUTURE IS HERE
ME S SAGE FROM T HE M AYOR THE FUTURE IS HERE. The Sunshine Coast offers investors an unrivalled mix of quality investment opportunities, prime commercial and coastal locations, a dynamic, innovative ecosystem and an idyllic lifestyle and environment. As one of Australia’s top ten significant urban areas, the Sunshine Coast is becoming one of Australia’s leading city regions of the 21st century. The Sunshine Coast is building a new economy based on a clear 20-year economic plan, which presents investors with multiple opportunities and opens new avenues for business growth, development and expansion. The region is also being recognised as Australia’s hub for entrepreneurs – with a dynamism and capacity for innovation which is arguably second to none. Significant capital investment is already underway on the Sunshine Coast. A new city centre – the only greenfield CBD in Australia at this time – is being established in Maroochydore and a new A$1.8 billion tertiary teaching hospital opened in 2017. The Sunshine Coast Airport is being expanded to deliver Australia’s next international gateway and a A$81 million expansion of the University of the Sunshine Coast was completed in 2015. More than A$2.5 billion in direct investment has been committed across these four major projects, in addition to more than A$10 billion in private investment fuelling growth in a number of high-value industries across the region. The region has built strong investment and business connections throughout the Asia Pacific and Middle East, with increasing domestic and global demand for its products and services. The Sunshine Coast is also well connected, with road, rail, sea and air links providing a direct gateway to local, national and global markets. The combination of the region’s competitive business environment, award winning reputation for innovation, accessibility to markets, new infrastructure, highly- skilled workforce and idyllic lifestyle makes the Sunshine Coast a location of choice for business and investment. Many outstanding businesses have already chosen to call the Sunshine Coast home, including Youi Insurance which is basing its global headquarters in the region. I invite you to share in the property, infrastructure and business opportunities presented in this Investment Prospectus. MAYOR MARK JAMIESON 5
OVERVIEW INVEST SUNSHINE COAST – THE FUTURE IS HERE As one of Australia’s leading regions for innovation, creativity and entrepreneurialism, the Sunshine Coast provides an outstanding mix of opportunities for new investment and business expansion. Located just over one hour’s drive from the state capital of Brisbane, including award-winning health, education and aviation and with a population of more than 294,000 (ABS 2016 Census) infrastructure, and a culture of innovation. The region is and a wider service catchment of more than 1 million people, the also driving the development of seven high-value industries Sunshine Coast has a clear 20-year economic blueprint and identified as having the greatest potential for success and vision to build a high-value economy of choice for business, being well placed to service demand from domestic and investment and employment. global markets. The Sunshine Coast is home to a flourishing innovation ecosystem The Sunshine Coast’s Regional Economic Development Strategy built on networks and collaboration, which is a magnet for big is generating a suite of emerging opportunities for investors thinkers, experienced leaders and world class talent. and opening new avenues for investment in infrastructure; An exciting future for the Sunshine Coast is being developed on targeted high-value industries; supply chain development; the back of strong economic foundations, valuable capital assets and commercial, industrial and residential development. WHY INVEST IN THE SUNSHINE COAST? A GROWTH ECONOMY Economic Growth • A Gross Regional Product of over A$17 billion (2015-16, AEC Group) – one of the largest regional economies in Queensland. • An average annual economic growth rate of 4.09% from 2002-2015 – higher than the national economic growth rate of 3.04% (International Monetary Fund 2013 and NIEIR 2015). • More than A$2.5 billion in major infrastructure projects and over A$10 billion in private investment already underway or in the pipeline. Population Growth • Population growth of 9.3% over the five-year period between 2010 and 2015 – higher than the national growth rate of 8.0%. • Forecast to have the second fastest growth rate of all regions outside the greater Brisbane area between 2011 and 2036 (Queensland Government, 2015). • The 10th largest significant urban area in Australia by population (.id, 2016). Business Confidence • The Sunshine Coast was the fastest growing region across Queensland over the past six months, adding 7,500 jobs (CCIQ Queensland Economic Update – June 2017). • More than 33,000 registered businesses (.id, 2016). • Businesses continue to reflect a consistent, positive regional business performance sentiment while indicating a solid growth outlook. Tourism Expenditure • A strong tourism sector with international visitors increasing by 16% to December 2016 and Visitation and 15% growth in domestic overnight visitors. There were 9.5 million visitors to the Sunshine Coast in 2016 (Tourism Research Australia, 2017). • The Sunshine Coast Tourism Region benefitted in 2016 from A$2.4 billion in visitor expenditure (Tourism and Events Queensland, Sunshine Coast Regional Snapshot Dec 2016). • The region ranked in the top ten of all Australian Tourism Regions for tourism expenditure from 2014-2015 (Tourism Research Australia, 2015). 6 INVEST SUNSHINE COAST - THE FUTURE IS HERE
INNOVATION AND PRIME LOCATION ENTREPRENEURSHIP Access to all major transport networks and export Award winning reputation for innovation – Sunshine Coast infrastructure – air, road and rail and broadband was named as a Smart 21 Community of 2017 and in three connectivity – including the award-winning Sunshine of the last four years by the Intelligent Community Forum. Coast Airport. A$1 million investment in the innovation ecosystem Room to grow – available commercial and residential supported by the Queensland Government and the land, commercial precincts, more than 2,700 industrial Sunshine Coast Regional Innovation Pipeline Team, zoned properties across 870 hectares with three a regional consortia. major industrial parks. A flourishing innovation ecosystem built on a An Enterprise Corridor for business – centrally collaborative culture, where innovations, new ideas, located and providing a focal point for commercial, entrepreneurs and start-ups are actively supported high-value industry, retail and residential growth. and encouraged. A Queensland Government approved Priority A Smart City Framework to deliver integrated Development Area in Maroochydore being transformed technologies which promote synergies and growth into a Central Business District for the 21st century – within the region and help make the Sunshine Coast offering greater development certainty and even more liveable, workable and sustainable. streamlined approval processes. A Smart Centre and Living Lab to showcase examples Nationally recognised lifestyle location of smart city technology currently being tested with with advantages for business. real-time results. An award-winning Innovation Centre – rated in the Top 10 University Business Incubators in the Asia and Oceania region for 2014. COMPETITIVE ADVANTAGES RESOURCES Quality education sector with an award-winning university, a multi-campus trade training institute, LOWER COSTS over 180 training institutions and more than 70 private and public schools. More affordable industrial land prices – 50% lower than other Australian capital cities A highly-educated workforce with the region’s population on the eastern seaboard. holding a higher level of post-secondary school qualifications than the Queensland average – Lower prices for commercial office space – and more than 83,000 students studying locally. 40% lower than Brisbane CBD costs. Access to business grade broadband Lowest basic flat payroll tax rate of any networks from up to five major carriers. Australian state or territory – and overall taxation estimated at A$866 less per person than other Dedicated client managers, incentives and Australian state and territory averages. assistance for new investors and businesses. Lower workforce costs than Queensland, Existing industry clusters and growing supply chains. Victoria and New South Wales averages – Access to all tiers of government, facilitated as part of meaning lower operating costs for employers the development and investment approval processes. on the Sunshine Coast. T NT S T TE ON ES EN OR E CE OR D M YS ATI PP NM TI E ON KF LLE CC TM = TA LOW ST W + + + + + CA IM S S OS V CO LO XE SU ER LO PR SU ES OR I EC NO W SK V V IN GO IN 7
INVESTMENT OFFER AT A GLANCE The Sunshine Coast offers investors the opportunity to be part of a location experiencing some of the most exciting developments in Australia at this time. Region-building ventures in new infrastructure projects and development precincts include: the development of Australia’s only greenfield city centre for the 21st century within an existing urban area at Maroochydore (underway) the expansion of the Sunshine Coast Airport to deliver direct access to the region from more Australian and international destinations a 17 hectare health, medical and mixed use precinct adjacent to the region’s new A$1.8 billion tertiary teaching hospital campus major new residential and commercial developments and precincts across the region including the Caloundra South Priority Development Area, known as Aura, which will house around 50,000 people a business, technology and retail precinct adjacent to one of Australia’s top-ranking universities, the University of the Sunshine Coast. the delivery of international broadband submarine cable infrastructure to provide the eastern seaboard of Australia with an alternative entry point for its international data connectivity. A flourishing innovation ecosystem A high number of entrepreneurs, digital champions and thriving businesses who make a global impact. A network of education programs, business incubators, co-working spaces, advocacy events and meetups which actively support and encourage innovation, new ideas, entrepreneurs and start-ups. Targeted high-value industries which offer great potential for success and are well placed to respond to demand from global markets: Health and wellbeing Education and research Knowledge industries and professional services Tourism, sport and leisure Aviation and aerospace Food and Agribusiness Clean technologies. To register your interest in investment opportunities, please contact the Head of Investment Attraction, Sunshine Coast Council, telephone +61 (0)407 753 645 or email invest@sunshinecoast.qld.gov.au. 8 INVEST SUNSHINE COAST - THE FUTURE IS HERE
OVERVIEW WHO SHOULD INVEST? ENTREPRENEURS Opportunities are available for: DEVELOPERS • Funds managers considering capital investment in infrastructure or commercial property RELOCATING • Private or government corporations wishing to CORPORATIONS CAPITAL relocate or establish a presence in the region INVESTORS • Entrepreneurs or individual investors looking to diversify their portfolios in a high-growth regional area • Business developers wishing to start up enterprises, FUNDS MANAGERS either small or medium-to-large scale BUSINESSES • Investors looking to take equity in an existing or new venture GOVERNMENT • Existing investors and business owners in the region planning to expand and leverage growing business confidence and new infrastructure investments. The Sunshine Coast offers a winning combination of locational advantages, a lower cost of doing business, economic resources, government support and investment opportunities. The region is already experiencing robust economic growth and is seeking discerning investors looking to capitalise on the associated market opportunities. Look who is already investing in the Sunshine Coast: Palisade Investment Partners ARIA AECOM HeliMods Abacus Cardno Aurecon Food Matters Melbourne Storm McDermott Aviation Optus Spark Bureau Stellar Asia Pacific Machjet International Auto & General Nano-Nouvelle Ramsay Health Care Becker Helicopters Country Chef Opal Aged Care Australia Zoo Latronic Sunpower Rivershore Resort iPug Merlin Entertainment Lendlease Ozzy Cranes Epicurean Products Minor Hotels Stockland Atlass-Aerometrex Freeze Dry Industries Youi Insurance Mantra Group Aussie World Happy Snacks Gourmet Garden GHD Australia COYO Langs Building Supplies Westfund Mirvac Suncare BizFurn Arcare Telstra Flight Options Sunshine Coast – Recognised for innovation and excellence Five Awards in 2012-15 One of the Top 21 Intelligent Winner, Excellence in Innovation, Public Twice awarded Communities Worldwide Development Information, 2015 ‘Major Airport of the Year’ 2014, 2015, 2017 Overall Winner, Engineering Two Awards in 2012-13 Winner, Google eTown Local Government Excellence Awards, 2014 Award, 2013 Sustainability Award 9
AUSTRALIA’S SUNSHINE COAST Moscow London Frankfurt Paris Beijing Seoul Tokyo Shanghai New Delhi Xiamen Hong Kong Taiwan Abu Dhabi Kuala Lumpur Singapore Jakarta SUNSHINE COAST Brisbane Adelaide Sydney Auckland Melbourne Canberra EUROPEAN TIME ZONE ASIAN TIME ZONE Sunshine Coast 6pm = London 9am Sunshine Coast 1pm = Hong Kong 11am 10 INVEST SUNSHINE COAST - THE FUTURE IS HERE
AUST RA L I A’ S S UNS HI NE COAST Distance from the Sunshine Coast Brisbane 1hr by car Sydney 1.5hrs Canberra 2hrs Melbourne 2.5hrs Adelaide 2.75hrs Auckland 3.5hrs Jakarta 7.5hrs Singapore 8.5hrs Kuala Lumpur 8.5hrs Hong Kong 9hrs Taiwan 9hrs Los Angeles New York Xiamen 9hrs Shanghai 9.5hrs Tokyo 9.5hrs Seoul 10hrs Beijing 11hrs New Delhi 13.5hrs Los Angeles 15hrs New York 20hrs Dubai 15.5hrs Abu Dhabi 15.5hrs Moscow 18hrs Tel Aviv 18.5hrs Frankfurt 20.5hrs AMERICAN TIME ZONE Sunshine Coast 9am = New York 5pm Paris 21hrs London 21hrs Direct flights to Sydney, Melbourne, Adelaide and Auckland are currently available from the Sunshine Coast Airport. The expanded Sunshine Coast Airport, to be completed by 2020, will offer greater capability and connectivity directly to international locations. 11
AUSTRALIA’S SUNSHINE COAST Queensland Sunshine Coast Brisbane The Sunshine Coast is just over one hour by road, north of the state capital of Brisbane and covers an Sydney area of approximately 2,291 square kilometres with Melbourne 52.3 kilometres of open coastline. The region features commercial, residential and industrial precincts as well as diverse landscapes from ocean beaches to green belts and pristine hinterland communities. Positioned on the doorstep of Asia and the Pacific Rim, the region is well connected to national and international markets through its major transport networks - the Bruce Highway, the national rail Kenilworth network and the Sunshine Coast Airport - and is close to Brisbane airports and the Port of Brisbane. KEY North Coast Rail Line Highways and Motorways Roads Light Rail Submarine Cable (proposed) Industrial Parks Industrial and Enterprise areas National Parks and State Forests Inter Urban Break 12 INVEST SUNSHINE COAST - THE FUTURE IS HERE
AUST RA L I A’ S S UNS HI NE COAST $10 million economic benefit Completed 2017 100% of council’s electricity offset by renewables Eumundi Peregian Springs Airport Expansion $4.1 billion Coolum Eco contribution To be Industrial Area to economy completed 2020 Yandina Industrial Coolum Proposed International Broadband Submarine Cable Estate Beach Yandina Yaroomba Sunshine Coast Solar Farm Sunshine $700m per annum Coast to Sunshine Coast economy Airport Submarine Cable Sunshine Nambour Bli Bli Mudjimba Plaza Mapleton creating 5200 $400 million construction expansion and retail jobs Maroochydore City Centre Maroochydore Mooloolaba Palmwoods Buderim 15,000 Montville jobs by 2025 University $4.4 billion contribution to economy of the Sippy Sunshine Downs Coast Kawana Palmview Palmview $3 billion + Sunshine Coast development Maleny University Hospital 17,000 residents Mooloolah Light Rail Sunshine Coast Caloundra Caloundra Landsborough Industrial Park Aerodrome Aura Peachester Beerwah way High Light Rail ce Glass Bru House Mountains Inter Urban Break Project Stage 1 by 2025 9000 jobs Aura To Brisbane (State Capital) 13
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WHY SUNSHINE COAST? ECONOMIC GROWTH INVESTMENT READY BUSINESS INFRASTRUCTURE INVESTOR INCENTIVES PROACTIVE LOCAL GOVERNMENT IDEAL LOCATION The new Maroochydore City Centre and surrounds. The Sunshine Coast 15 Airport is just 10 minutes north of the central business district.
GROWING ECONOMY STRONG ECONOMIC FOUNDATIONS The Sunshine Coast economy is one of the largest regional growth on the Sunshine Coast surpassed the Australian average economies in Queensland, with a current Gross Regional annual growth rate by 1.05% per annum over this period. Product of more than A$17 billion (2015-2016, AEC Group). The Sunshine Coast is the tenth largest ‘significant urban area’ The economy is predicted to grow in a strong and sustainable in Australia by population (.id, 2016). The region experienced a pattern over the next 20 years to reach A$33 billion in 2033, 9.3% growth in population over a five-year period (2010-2015), accompanied by an increase in high-value employment, export which was higher than the national growth rate of 8.0% over and household income. the same period (ABS, 2016). The average annual economic growth of the Sunshine Coast The region is forecast to have the second highest growth rate in from 2002-2015 (4.09% per annum) compared with other major population for Queensland regions outside the greater Brisbane global economies (International Monetary Fund, October 2015) area between 2011 and 2036 (Queensland Government demonstrates the region’s strong economic position. Economic Population Projections, 2015). INTERNATIONAL MONETARY FUND, WORLD ECONOMIC OUTLOOK CHANGE IN GDP 2001-2015 AVERAGE ANNUAL GROWTH IN GDP (GRP) 4.09% 3.04% 1.91% 1.93% 1.60% 1.68% 0.90% 0.93% 1.14% 0.82% -0.10% ITALY JAPAN NETHERLANDS FRANCE GERMANY UNITED KINGDOM SWITZERLAND UNITED STATES CANADA AUSTRALIA SUNSHINE COAST Sources: International Monetary Fund, World Economic Outlook Database, October 2015 and National Institute of Economic and Industry Research (NIEIR) ©2015, compiled and presented in economy.id. 16 INVEST SUNSHINE COAST - THE FUTURE IS HERE
W HY S UNS HI NE COAST? SUNSHINE COAST - growing population Today-2041 The region’s population of 294,000 (ABS 2016 Census) is 502,000 2041 the health care, finance and insurance services sectors have projected to grow to more than 500,000 by 2041, providing an 468,000 2036 since 2006-07. been key drivers of economic growth ever-expanding local workforce to meet the needs of new For the region’s 33,000 businesses on the Sunshine Coast, business and industry as new investment takes place (.id, 2015). commercial confidence remains high. The Sunshine Coast Business The Sunshine Coast’s industry base has broadened over the past 294,000 2016 Confidence Index reflected a nine point increase to the year on decade, with growth in new industries such as education, year average for 2016-17. healthcare and professional services. Businesses continue to reflect a consistent, positive regional The region’s top five industry sectors contributing to Gross business performance sentiment while indicating a solid growth Regional Product are health care and social assistance, outlook for the immediate six months, with financial year 2017-18 construction, financial and insurance services, retail, and shaping up to be rewarding (Boardroom Business Survey, education and training (2015-16, AEC Group). In particular, November 2016). SUNSHINE COAST GROWING POPULATION POPULATION GROWTH RATE OVER SUNSHINE COAST - 2016 - 2041 Population growth rate - FIVE YEAR PERIOD 2010 - 2015 growing population five-year period Today-2041 2010-2015 502,000 2041 SUNSHINE COAST 9.3% 468,000 2036 Australia 8.0% 294,000 2016 Population growth rate - five-year period 2010-2015 SUNSHINE COAST 9.3% Sources: ABS Census 2016 and .id Projections estimated November 2015. Australia 8.0% 17
REGIONAL ECONOMIC STRATEGY A clear economic blueprint for the transformation of the brings decades of entrepreneurial experience and expertise to regional economy over 20 years has been developed by the guide the implementation of the strategy, providing professional Sunshine Coast Council and leading business, industry and advice on capital raising, infrastructure prioritisation, market university representatives. intelligence, innovation and project management. Sunshine Coast - The Natural Advantage: Regional Economic Supporting the work of the Board are seven industry-led Development Strategy 2013-2033 outlines a comprehensive taskforces, each responsible for driving the development and agenda to improve the resilience and strength of the regional investment in a high-value industry. economy and position the Sunshine Coast as one of Australia’s leading city regions. After four years, more than 80 per cent of the actions in the five year implementation plan have been delivered or are continuing The strategy’s four goals are supported by an initial five-year implementation plan focused on outcome-based actions, to on an ongoing basis. provide the foundations to generate sustained regional economic BUILDING BLOCKS FOR A SMART ECONOMY growth and associated investment returns. (The strategy can be accessed at www.sunshinecoast.qld.gov.au) Reflecting the joint commitment of government, industry and business leaders, the smart economy is being built on: The delivery of the strategy is overseen by the Sunshine Coast Economic Futures Board, comprising six acclaimed Australian • strong leadership embracing collaboration, agility business leaders and the Sunshine Coast Mayor. The Board and a determination to succeed 2013 A$13.8 billion economy 59,000 employment opportunities in high-value industries 13.6% of good and services produced for export outside the region Household income levels 22.3% below the state average 18 INVEST SUNSHINE COAST - THE FUTURE IS HERE
W HY S UNS HI NE COAST? • capital investment in regional infrastructure projects These projects collectively equate to a minimum direct to support growth and competitiveness investment of over A$2.5 billion in the regional economy and are predicted to leverage associated investment of more than • investment in high-value industries that generate double this amount. enduring employment • local-to-global connections to growth markets and with The projects are providing a significant boost to the retail and construction sectors and will encourage new investment, products and services where the region has a clear business development and expansion opportunities in competitive advantage the high-value industries. • the talent and skills of its workforce and the contribution of community members. MAJOR ‘GAME-CHANGER’ INFRASTRUCTURE The region’s infrastructure projects are transforming the Sunshine Coast economy and its employment base, and generating an array of associated investment opportunities. 2033 A$33 billion economy 100,000 employment opportunities in high-value industries 20% of good and services produced for export outside the region Household income levels above the state average 19
SNAPSHOT Infrastructure Investment – Regional ‘Game-Changers’ UNDERWAY AUSTRALIA’S ONLY GREENFIELD CBD AT MAROOCHYDORE A new 21st century city centre with commercial, retail and residential investment opportunities, including a premium international hotel, is being developed on a 53 hectare site owned by the Sunshine Coast Council. UNDERWAY EXPANSION OF THE SUNSHINE COAST AIRPORT This will be Australia’s next international airport, to be completed by 2020. The project includes the construction of a new 2,450 metre runway and increased apron facilities and is forecast to contribute A$4.1 billion to the economy through to 2040. COMPLETED A NEW A$1.8 BILLION TERTIARY TEACHING HOSPITAL CAMPUS The new Sunshine Coast University Hospital, incorporating the A$60.8 million Sunshine Coast Health Institute, was officially opened in April 2017. The hospital opened with close to 450 beds and 3,000 staff, and the capacity to grow to approximately 738 beds and 4,600 staff by 2021. COMPLETED A$81 MILLION EXPANSION OF THE UNIVERSITY OF THE SUNSHINE COAST New facilities are delivering world-class teaching and research technologies, and support increasing student numbers and course options. A new Engineering and Structures Laboratory, Learning and Teaching Hub and a Resources Building are now in place. PLANNED SUBMARINE CABLE A new submarine cable brought ashore on the Sunshine Coast will deliver faster, more reliable and affordable broadband connectivity for Queensland, providing greater bandwidth for new business and research institutes. The project is forecast to generate an additional A$700 million to the Sunshine Coast economy every year and A$1.1 billion annually to the State’s economy. 20 INVEST SUNSHINE COAST - THE FUTURE IS HERE
W HY S UNS HI NE COAST? High-Value Industries Supporting the major infrastructure projects, there are seven Growing industry and business capabilities to respond to high-value industries that offer new investment prospects demand from national and global markets is a major priority and opportunities for the expansion of existing businesses. for the region. The seven high-value industries are: HEALTH AND EDUCATION WELLBEING AND RESEARCH TOURISM, SPORT KNOWLEDGE INDUSTRIES AND LEISURE AND PROFESSIONAL SERVICES AVIATION AND FOOD AND AEROSPACE AGRIBUSINESS CLEAN TECHNOLOGIES 21
PIPELINE OF CAPITAL DEVELOPMENT A range of capital projects are already in the pipeline – or planned The project timeline on pages 26 and 27 shows the projected for development across the Sunshine Coast – offering new delivery dates for some of the major developments across the investment and business development and expansion opportunities. Sunshine Coast for the next 20 years and beyond. This pipeline of capital development showcases the already strong These projects include the region’s A$2.5 billion in major investment interest in the region. infrastructure projects and more than A$10 billion in private sector investment, such as new retail and service centres, and commercial, residential and mixed-use developments. Many of these region- Further information regarding opportunities for investors arising building projects will be delivered within the next two decades. from some of these key developments can be found from page 41. INFRASTRUCTURE SUPPORTING AN INNOVATIVE, LIVEABLE REGION For more information on the following case studies, please email invest@sunshinecoast.qld.gov.au. CASE STUDY Sunshine Coast Solar Farm A 15MW solar farm has been built and commissioned by the Sunshine Coast Council at Valdora. This is the only council-owned solar farm in Queensland and the first grid-connected, utility-scale facility of this kind in Australia. As well as electricity cost savings, it is estimated that A$10 million in economic benefits, such as long-term employment, research and development opportunities and associated tourism, will be delivered to the region through construction and flow-on operations. The electricity generated by the solar farm will offset all of council’s consumption of electricity from the grid. Reducing council’s electricity costs by A$22 million over the life of the asset will provide both significant savings for all ratepayers and substantial environmental and community benefits. Importantly, the initiative will strengthen the region’s emerging clean energy hub, complement the 40,000 solar rooftops installed on the Sunshine Coast and attract other clean energy business investment. Council is striving to become Australia’s most sustainable region and the Sunshine Coast Solar Farm is part of its plan to achieve that vision. 22 INVEST SUNSHINE COAST - THE FUTURE IS HERE
W HY S UNS HI NE COAST? CASE STUDY Sunshine Coast Health Campus The Sunshine Coast Health Campus incorporates the A$1.8 billion Sunshine Coast University Hospital, which includes the A$60.8 million Sunshine Coast Health Institute. This state-of-the-art tertiary, teaching hospital precinct is a significant contributor to the Sunshine Coast’s economic development and will provide a catalyst for health, medical, commercial and residential development in surrounding areas. The Sunshine Coast University Hospital provides world-class research facilities along with a 21st century clinical and patient care environment. The Sunshine Coast University Hospital and the Sunshine Coast Health Institute is meeting growing community demand for hospital services and help train the future health workforce. The first stage of the project opened in March 2017 with close to 450 beds and 3,000 staff, with the capacity to grow to approximately 738 beds and 4,600 staff by 2021. Co-located on the site is the A$150 million Sunshine Coast University Private Hospital, which opened in November 2013. The 200 bed Sunshine Coast University Private Hospital is operated by Ramsay Health Care. This facility provides general and respiratory medicine, general surgery and specialities such as orthopaedics, ENT (ear, nose and throat), gastroenterology, colorectal surgery, urology, oncology, day chemotherapy and interventional cardiology services. 23
Artist’s impression. Subject to further design development and approvals. CASE STUDY Sunshine Plaza A$400 million expansion Sunshine Plaza, the largest shopping centre on the Sunshine Coast, houses more than 220 specialty stores including fashion, dining and cinemas. The Riverwalk, which runs through the centre of the Plaza, is lined with restaurants, cafés and dining and includes paddle boating facilities. In 2016, Sunshine Plaza generated over A$555 million* in retail sales. Sunshine Coast Council has approved a A$400 million expansion plan for the centre. The expansion is planned to add over 34,000m2 additional retail space with a new 8,000m2 David Jones department store, 6,500m2 Big W, refurbished Myer, over 100 new specialty stores and over 1,400 additional parking spaces. A major public transport upgrade outside Sunshine Plaza has also been completed, providing more accessible connections for public transport and enhancements to public safety infrastructure. Lendlease engaged global architecture, planning and design firm Callison RTKL, who specialise in the design of world class shopping and entertainment precincts to lead the creative design process for the centre expansion and set the long term vision for Sunshine Plaza. Lendlease is committed to a design that is tailor made to Maroochydore, creating relevant connections between the new phase and the existing, an urban development with nature, and the wonderful people to a place they have long called home. The transformation of the centre is due for completion prior to Christmas 2018. *Source: Lendlease sales report December 2016. Includes all associated buildings. 24 INVEST SUNSHINE COAST - THE FUTURE IS HERE
WW HYHYSUNSHI S UNS HI NENECOAST? COAST CASE STUDY Mary Cairncross Scenic Reserve Rainforest Discovery Centre A$4.7 million infrastructure renewal The iconic Mary Cairncross Scenic Reserve in the Sunshine Coast hinterland has undergone a A$4.7 million infrastructure renewal to meet increased tourist visitation and changing demands for educational facilities and programs. The Reserve, spanning 55 hectares of National Estate-listed subtropical rainforest overlooking the heritage-listed Glasshouse Mountains, is renowned as a popular tourist destination and welcomes more than 200,000 visitors each year. The rainforest provides a living museum of plant and animal life for tourists and residents, and has proven a popular site for wedding ceremonies and nature-based recreation activities. The new Mary Cairncross Scenic Reserve Rainforest Discovery Centre officially opened in February 2017, following a 12-month renewal program. The facility now provides improved tourism and educational facilities including a new Discovery Centre, an elevated viewing platform, a boardwalk along the rainforest edge, a Conservation Research Area, a meeting theatrette, café and gift shop as well as offices and amenities for volunteers and staff. 25
PROJECT DELIVERY TIMELINE CURRENT AND FUTURE DEVELOPMENTS Sunshine Coast Regional Maroochydore City Centre – Economic Development early site works commenced Strategy 2013-2033 launched Bruce Highway upgrades – Roys Road Sunshine Coast University Interchange completed Private Hospital opened in November Aura - Caloundra South Development launched Sunshine Coast Council approved A$400 million expansion plan for Big Top and Ocean Street food and Sunshine Plaza retail precinct redevelopment completed Pelican Waters Southern Lakes University of the Sunshine Coast’s Development and Marina Engineering Learning Hub, multi-level commenced car park and Stage 2 of Aquatic Centre completed Sunshine Coast Aerospace Precinct launched in November 2016 2015 2014 2013 Maroochydore City Centre - Development Sunshine Coast Airport Environmental Scheme approved and perimeter works Impact Statement approved commenced Sunshine Coast Solar Farm Kawana Shoppingworld, Mirvac - A$73 million construction commenced expansion and upgrade completed Maroochydore City Centre - Lots in University of the Sunshine Coast’s first stages released to market Engineering Structures Learning Laboratory and Learning and Teaching Hub completed Palmview master planned community development - First stage commenced Caloundra Tennis Centre Stage 1 completed Mary Cairncross Scenic Reserve – Sippy Downs retail, commercial development Building renewal commenced space and student-style residential accommodation in Town Centre approved Stage 2 of Emporio project (integrated apartment, retail and office community complex) completed 26 INVEST SUNSHINE COAST - THE FUTURE IS HERE
W HY S UNS HI NE COAST? Maroochydore City Centre – First stage of proposed Light Rail 2028- first stage of commercial project completed 2036 centre proposed to be delivered Maroochydore City Centre - Stage 3 of construction including Sunshine Coast Airport civic parkland completed expansion delivered 2025 2021 Pelican Waters Southern 2020 Lakes Development and Marina completed 2018- 2019 Palmview master planned 2017 community - project completed Maroochydore City Centre completed Sunshine Coast University Hospital - Fully commissioned to built capacity Health Hub and Town Centre Sunshine Coast University Hospital Maroochydore City Centre - projected to be completed opened first buildings completed Maroochydore City Centre – Sunshine Coast Solar Farm completed Birtinya Peninsula residential Stage 2 of construction including development completed major road link completed Mary Cairncross Scenic Reserve – Building renewal completed Sunshine Coast Light Rail Project - Business Case completed Bruce Highway upgrades – Caloundra Road Interchange commenced The Events Centre, Caloundra - redevelopment completed Youi Insurance Global Headquarters in Sippy Downs – construction completed Sunshine Coast Entertainment, Convention and Exhibition Facility Palisade Investment Partners - Business Case completed confirmed as commercial partner in Sunshine Coast Airport Sunshine Coast Airport Expansion – initial site works commenced International Broadband Submarine Cable - Feasibility Study and Business Case finalised 27
INNOVATION AND ENTREPRENEURSHIP The Sunshine Coast has been recognised as Australia’s leading team constitutes the largest state-wide collaboration of partners hub for entrepreneurs through its reputation for innovation, working to develop a Regional Innovation Hub, building on the creativity and stimulating new ideas. region’s strong social capital locally and connections nationally and globally. As a flagship project, the Sunshine Coast Council is developing the new Maroochydore City Centre from the ground up as Australia’s The strength of the Sunshine Coast’s unique entrepreneurial first truly smart city. ecosystem lies in the number of education programs, business incubators, co-working spaces, advocacy, events and meetups. Across the region, Council is also driving some of the most exciting The ecosystem provides a supportive environment where initiatives in this nation at this time, including the procurement of entrepreneurs are encouraged, ideas are nurtured through Australia’s first underground automated waste collection system industry collaboration and supported by regional leadership. to be installed at the Maroochydore City Centre, free public WiFi across the region and the Smart City Implementation Program. Complementing #SCRIPT is Digital Sunshine Coast, a collaborative project involving a large network of public and private organisations Council’s Smart Centre and Living Lab showcase examples of smart city technology currently being tested and demonstrates and individuals, to connect people on the topic of digital innovation. real-time results. Technologies range from smart phone apps The region’s innovation ecosytem is increasingly dynamic and which alert motorists to available car parks; rubbish bins that connected through events such as GovHack Sunshine Coast and sense when they need emptying; irrigation systems that save Sunshine Coast Council HackFest which explore opportunities for water by connecting them to weather forecasts; and data which new products and services based on the creative use of open helps businesses better understand customer behaviour. data sets. The annual Innovation Centre Pitch Competition and For the third time in recent years, the region has been named Startup Weekend Sunshine Coast also provide opportunities for as one of the world’s Smart 21 Communities by the Intelligent growing startups, for businesses who want to raise capital and for Community Forum (ICF). people with business ideas looking for skills or with skills looking for a business idea. A new A$1 million regional initiative, #SCRIPT (Sunshine Coast Region Innovation Pipeline Team) is being delivered to further For an entrepreneurial and innovative business, there is no better develop the region’s vibrant innovation ecosystem. The #SCRIPT place to be at this time than the Sunshine Coast. 28 INVEST SUNSHINE COAST - THE FUTURE IS HERE
W HY S UNS HI NE COAST? “Queensland has the second-highest number of start-ups in the country with areas outside of capital cities, such as the Sunshine Coast, leading the charge.” Mark Sowerby Queensland Chief Entrepreneur INNOVATION CENTRE SUNSHINE COAST The region’s longest running business incubator and accelerator, Sunshine Coast and partners with AusIndustry, Advance the Innovation Centre Sunshine Coast brings entrepreneurial Queensland and quality, globally experienced partners, start-ups and high growth companies together with high-quality mentors and sponsors. Experienced mentors provide facilities, support services and dedicated corporate mentors. perspectives and feedback to new entrepreneurs and share their experience, challenges and network Since 2002, more than 190 business have graduated from the connections to help start-ups reach their true potential. program and created more than 800 jobs with over A$33 million raised in early stage capital and government grants. The Innovation Centre was named as one of the UBI Index’s top 10 University Business Incubators for the Asia and The Innovation Centre is backed by the University of the Oceania region for 2014. SUNSHINE COAST Logic Space INNOVATION ECOSYSTEM The The Hive Boarding Office Undersea Broadband Cable Independent Angel Investors Inbox Workspace Co-working Share Space Sunshine Coast Spaces Creative Alliance Sunshine Coast Mentoring and Smart Cities Investment Group Spark Bureau Advocacy Framework Generation and Living Lab Innovation Speed it UP Funding Digital Pitch Comps Champions Incubators/ and Demo Days Program SCC Hackfest Accelerators Digital Sunshine Coast Innovation Centre Mayor’s Telstra GovHack Sunshine Coast Technology Awards Sunshine Coast Events The Old Ambulance Station Bright Sparks Lab Future Careers 2025 Startup Weekend Coding from Startup Weekend Sunshine Coast the Beach SC Youth Sunshine Coast TAFE Queensland Makers and Inventors Sunshine Coast .net Education Level Up User Group El Grande Engage Lab Sunshine Coast University of the Lab of Awesome Blockchain Sunshine Coast Meetups CoderDojo MCSHS Coding and Dot Maleny Innovation Hub Silicon Coast Getting Sunshine GameDevs of the sh*t done Coast Sunshine Coast Wordpress Design Thinking 29
DEDICATED BUSINESS PRECINCTS AND INFRASTRUCTURE To encourage new investment and promote business assessment levels for appropriate development in these areas expansion, the Sunshine Coast Council has introduced have been embedded in the region’s planning scheme. competitive regulatory and planning settings which are This offers greater levels of certainty for business investors responsive to the commercial needs of business and industry. and makes it easier and more efficient in getting a new Dedicated areas for commercial and industry growth and lower business investment established. “The Sunshine Coast has given us a fantastic base to develop our cleantech business, starting up at the Innovation Centre and later migrating to the Coolum Beach industrial zone. Support from local industry and Council has helped more than we could have imagined.” Mark Leckenby, CEO ENOPTE ENTERPRISE AND INVESTMENT AREAS The Sunshine Coast Enterprise Corridor represents the key in infrastructure, commercial and industrial precincts, regional location for commercial and residential growth and residential development. Lower levels of development over the next 20 years and is home to many of the region’s assessment and greater flexibility apply in appropriate areas 33,000 registered businesses. of the Enterprise Corridor. Priority areas for investment are also identified within the Enterprise Corridor and across the More than 80% of the region’s projected population growth region associated with the region’s major infrastructure and the majority of new business investment in the high-value projects, to accommodate expansion and new business industries will be accommodated within the Enterprise Corridor, development opportunities in the high-value industries. in appropriately planned and serviced locations. The Enterprise Corridor stretches along the coastal strip The regulatory settings for development, which the Sunshine from the Sunshine Coast Airport to Caloundra South (Aura) Coast Council has put in place in appropriate areas in the - see regional map on pages 12 and 13. Enterprise Corridor, are designed to encourage investment 30 INVEST SUNSHINE COAST - THE FUTURE IS HERE
W HY S UNS HI NE COAST? INDUSTRIAL LAND The Sunshine Coast region contains more than 2,700 The region’s industrial precincts provide excellent locational industrial zoned properties across 870 hectares positioned advantages, with land available near developed areas suitable for business growth, with a wide range of lot sizes available. for small-scale service, knowledge or ‘clean’ businesses through to land available for high-impact industry purposes. QUEENSLAND GOVERNMENT INDUSTRIAL PARKS Three major industrial parks offer land for sale or lease: Coolum Eco Industrial Park • Queensland’s largest, sustainable industrial precinct • Location: Quanda Road, Coolum, western side of the Sunshine Motorway, Sunshine Coast • Lot size: 27 lots available ranging from 5,000m2 to 1.2 hectares, adjoining a 34 hectare conservation park • Type of land use: medium and high impact industry. Sunshine Coast Industrial Park • One of the largest industrial precincts in South East Queensland • Location: Racecourse Road, Caloundra • Lot size: 73 lots, 25 lots available from 2,434m2 to For further information on these parks, contact 10 hectares Economic Development Queensland by telephone on • Type of land use: low, medium and high impact industries. +617 3452 7880, by email industrial@edq.com.au or visit www.industrial.edq.com.au. Yandina Industrial Estate • Location: Paulger Flat Road, Yandina See the map on pages 12 and 13 for industrial • Lot size: 3 lots available from 5177m2 to 7424m2 park locations. • Undeveloped parcel: 1 available at 6 hectares • Type of land use: low and medium impact industry. INDUSTRIAL AND ENTERPRISE AREAS Other industrial land on the Sunshine Coast includes: • Beerwah Industrial Area • Caloundra West Industrial Estate • Forest Glen Industrial Area • Kawana Industrial Area • Kunda Park Industrial Area • Kuluin Industrial Area • Landsborough Industrial Area • Maroochydore Industrial Area • Moffat Beach Industrial Park • Mooloolaba Harbour Industrial Area For further information on these industrial areas, • Nambour East Industrial Area. contact Head of Investment Attraction, Sunshine Coast Council, telephone +61 (0)407 753 645 or email invest@sunshinecoast.qld.gov.au. 31
LOWER COSTS FOR DOING BUSINESS The Sunshine Coast’s low business costs make the region a highly cost-effective place to operate. The region boasts: • Australia’s lowest payroll tax rates • lower operating costs, compared to the state averages in Queensland, New South Wales and Victoria. PAYROLL TAX Queensland has the lowest payroll tax rate of any state or territory states and territories (Queensland Government, July 2017). in Australia and this low payroll tax rate is applicable to the Furthermore, Queensland companies are not required to pay any Sunshine Coast. Taxation in Queensland in 2016-17 was estimated payroll tax until total wages and salaries exceed A$1.1 million. to be A$866 per person less than the average of other Australian LOWEST BASIC FLAT A$1,500,000 PAYROLL Northern Territory TAX EXEMPTION THRESHOLD 5.50% Western A$850,000 Australia A$1,100,000 EXEMPTION THRESHOLD 5.50% Queensland 4.75% EXEMPTION THRESHOLD NATIONAL AVERAGE 5.49% SUNSHINE COAST New South Wales A$750,000 A$600,000 South Australia 5.45% EXEMPTION THRESHOLD EXEMPTION THRESHOLD 4.95% Australian Capital Territory A$2,000,000 A$575,000 Victoria 6.85% EXEMPTION THRESHOLD EXEMPTION 4.85% THRESHOLD Tasmania A$1,250,000 6.10% EXEMPTION THRESHOLD Sources: www.payrolltax.gov.au 32 INVEST SUNSHINE COAST - THE FUTURE IS HERE
W HY S UNS HI NE COAST? EASTERN SEABOARD LOCATION LESS THAN HALF THE COST INDUSTRIAL LAND OF SYDNEY Industrial land costs per square metre on the Sunshine Coast are, on average, 51% lower than Brisbane, 71% lower than Sydney and 61% lower than Melbourne. SUNSHINE COAST A$150 Brisbane /m2 Source: Savills, September 2016 A$308 ‡ Median price for CBD and outer suburbs /m2 Sydney‡ A$525 /m2 INDUSTRIAL Melbourne ‡ LAND COSTS A$382 INDICATIVE INDUSTRIAL /m2 LAND VALUES (3,000-5,000M2) LESS COMMERCIAL THAN HALF THE COST OFFICE RENTAL OF SYDNEY Office rent costs on the Sunshine Coast are, on average, almost 40% lower than Brisbane CBD costs, 62% lower than SUNSHINE COAST Sydney and 42% lower than Melbourne. A$390 2 /m Source: Savills, 2016 Brisbane CBD Gold Coast A$650 A$422 /m2 /m 2 Sydney CBD A$1025 /m2 Melbourne CBD A$670 COMMERCIAL OFFICE /m2 RENTAL COSTS (A GRADE COSTS) LOWER MEDIAN WEEKLY OPERATING COSTS OPERATING HOUSEHOLD INCOMES COSTS AND INSURANCE The Sunshine Coast has, on average, RATES lower workforce costs in terms of weekly wages and employee Queensland insurance rates than the major states A$1,402 SUNSHINE COAST of New South Wales and Victoria. A$1,275 A$1.20 WORKCOVER This means lower operating costs for New PREMIUM COST employers on the Sunshine Coast. South PER A$100 IN WAGES Wales A$1,486 A$1.40 WORKCOVER Source: ABS 2016 Census Quickstats, 2016/17 PREMIUM COST Workcover Premiums QLD Government. PER A$100 IN WAGES Victoria A$1,419 A$1.27 WORKCOVER PREMIUM COST PER A$100 IN WAGES 33
PRIME LOCATION GATEWAY TO EXTERNAL MARKETS The Sunshine Coast has excellent access to national and 2020, Sunshine Coast Airport will continue to support the international air and sea ports, including the Sunshine Coast growing needs of its existing markets and develop passenger Airport, Brisbane International Airport and the Port of Brisbane, and freight services into Asia, the South Pacific and beyond. along with direct access to national road and rail networks. This means supply lines and distribution networks are well PORT assured and it is easy to stay connected both domestically The Port of Brisbane, Queensland’s largest general cargo port and internationally. and Australia’s fastest growing container port, is just over an hour away by road and connected to the Sunshine Coast by AIR the national highway. Sunshine Coast Airport, Australia’s first carbon neutral airport, is well situated in the heart of the Sunshine Coast, offering an ROAD ideal entry and exit point to the region. The Bruce Highway, Queensland’s major freight route and part of Australia’s national highway network, provides direct road The airport offers 24-hour access and provides daily flights access to the region and effectively links inland production to major capital cities of Sydney and Melbourne, three weekly areas and major regional centres. The highway is also a flights to Adelaide and seasonal flights to Auckland, New Zealand, major commuter route and key tourist access corridor. with connections to destinations around the world. Brisbane International Airport provides a secondary access point and is RAIL just over an hour away by road. The Sunshine Coast is serviced by the Queensland passenger train electric commuter services, providing fast access to Sunshine Coast Airport is home to a wide range of aviation Brisbane and the rest of South East Queensland. The national business and services, including maintenance and training. rail freight network traverses the region and is directly With the airport expansion project due for completion in accessible from Nambour in the Sunshine Coast hinterland. 34 INVEST SUNSHINE COAST - THE FUTURE IS HERE
W HY S UNS HI NE COAST? W HY S UNS HI NE COAST LIFESTYLE ADVANTAGES As one of the most biodiverse locations in Australia, the Festival, the Mooloolaba Triathlon, Ironman 70.3 Sunshine Sunshine Coast boasts 52.3 kilometres of open coastline Coast, four national outrigger titles and a variety of food and with beautiful beaches, freshwater rivers and lakes, wine festivals. subtropical forests, national parks, abundant wildlife and a subtropical climate. The region also hosts regular horse racing, surfing and lifesaving events and more than 1,800 local events each year centred Within the region, there are approximately 13,000 kilometres of around agriculture, the arts, environment, heritage, education watercourses and more than 39,835 hectares of national parks, and sport. state forests and forest reserves. These natural assets have made the Sunshine Coast one of Australia’s prime tourist The Sunshine Coast offers a range of cultural and recreational destinations and the perfect place to enjoy a healthy and attractions such as fine dining and entertainment venues active lifestyle. by the beach or in hinterland settings, and outdoor sport and recreation. The Sunshine Coast is also home to a range The Sunshine Coast lives up to its name – with clear blue skies, of galleries and performance spaces providing unique a vibrant, green hinterland and an abundance of sunshine – offerings that appeal to a wide range of interests. on average seven hours per day, over 300 days per year. The region’s tourism industry and community events are also The Sunshine Coast is also home to a range of major events, supported by a range of community areas and facilities which reinforcing the region’s reputation as the major events capital include approximately 7,000 hectares of recreation parks, sport of regional Australia. Major events include the Caloundra Music fields and botanic gardens. 35
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